The Ministry of Finance has attracted almost ₴23B from the sale of OVDP bonds.

On October 24, the Ministry of Finance placed domestic state loan bonds (OVDP) for the total amount of ₴22.91B, significantly reducing the rates for securities denominated in hryvnia.

The state received ₴3.48B from the sale of annual hryvnia bonds. At the same time, their rate decreased from 17.53% to 17.27% per annum. Also, 22-month bonds attracted ₴4.18B, with the interest rate reduced from 18.35% to 18.15% per annum. Three-year bonds raised ₴4.79B, and their interest rate decreased from 19.18% to 19% annually. Previously, the National Bank included this OVDP issue in the list of reserves.

In addition, the Ministry of Finance placed $286.33M in US bonds at 4.79% per annum.

Note that the OVDP rate has decreased because bankers expect another discount rate reduction by the NBU, at their October 26 meeting, by approximately two percentage points – to 18% per annum.